Virtu Financial LLC Cuts Stock Position in TKO Group Holdings, Inc. $TKO

Key Points

• Virtu Financial LLC sharply reduced its TKO Group stake by 81.5% in the fourth quarter, selling 13,082 shares and ending with 2,969 shares worth about $620,000.
• TKO Group reported better-than-expected quarterly results, with EPS of $1.12 versus estimates of $1.11 and revenue of $1.60 billion, up 25.9% year over year.
• The company also raised its quarterly dividend to $0.79 per share, while analyst sentiment remained constructive with an average rating of Moderate Buy and a consensus price target of $233.73.

Virtu Financial LLC cut its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 81.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,969 shares of the company's stock after selling 13,082 shares during the period. Virtu Financial LLC's holdings in TKO Group were worth $620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Amundi increased its stake in shares of TKO Group by 338.7% during the first quarter. Amundi now owns 1,360 shares of the company's stock worth $205,000 after purchasing an additional 1,050 shares in the last quarter. AQR Capital Management LLC lifted its stake in TKO Group by 10.7% in the 1st quarter. AQR Capital Management LLC now owns 7,222 shares of the company's stock valued at $1,083,000 after buying an additional 696 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in TKO Group by 4,722.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,777 shares of the company's stock worth $1,341,000 after buying an additional 8,595 shares during the last quarter. United Services Automobile Association acquired a new stake in TKO Group in the 1st quarter worth about $218,000. Finally, Geneos Wealth Management Inc. increased its stake in TKO Group by 127.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 510 shares of the company's stock worth $78,000 after buying an additional 286 shares in the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TKO has been the topic of several research reports. Sanford C. Bernstein decreased their target price on TKO Group from $250.00 to $240.00 and set an "outperform" rating on the stock in a research report on Monday, April 27th. Zacks Research upgraded TKO Group from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Wolfe Research reissued a "peer perform" rating on shares of TKO Group in a research note on Thursday, March 5th. Wall Street Zen upgraded TKO Group from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Citizens Jmp assumed coverage on shares of TKO Group in a research note on Monday, March 30th. They set a "mkt outperform" rating and a $240.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $233.73.

TKO Group Trading Down 0.6%

Shares of TKO Group stock opened at $197.66 on Tuesday. The stock has a market cap of $38.37 billion, a P/E ratio of 73.76 and a beta of 0.59. The stock's 50 day simple moving average is $193.73 and its 200-day simple moving average is $201.11. TKO Group Holdings, Inc. has a 1-year low of $152.29 and a 1-year high of $226.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34.

TKO Group (NYSE:TKO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.01. TKO Group had a return on equity of 2.49% and a net margin of 4.47%.The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business earned $0.69 earnings per share. The business's revenue was up 25.9% compared to the same quarter last year. Analysts predict that TKO Group Holdings, Inc. will post 4.96 EPS for the current fiscal year.

TKO Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.79 dividend. This is a boost from TKO Group's previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, June 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.6%. TKO Group's dividend payout ratio is 117.91%.

Insider Buying and Selling

In other news, Director Nick Khan sold 9,589 shares of TKO Group stock in a transaction on Friday, June 12th. The stock was sold at an average price of $207.56, for a total transaction of $1,990,292.84. Following the transaction, the director owned 81,511 shares in the company, valued at $16,918,423.16. The trade was a 10.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark S. Shapiro purchased 10,807 shares of the stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $185.05 per share, for a total transaction of $1,999,835.35. Following the transaction, the insider owned 129,207 shares in the company, valued at approximately $23,909,755.35. The trade was a 9.13% increase in their position. The disclosure for this purchase is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders acquired 24,308 shares of company stock valued at $4,499,679 and sold 28,625 shares valued at $5,650,725. 64.30% of the stock is currently owned by insiders.

TKO Group Profile

TKO Group Holdings NYSE: TKO is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.

TKO's core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.

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